Anyone buying gold at 889 / 867??

Aloha again, im curious if anyone else on here is also planning on buying gold at 889 or 867??

I made a call 2weeks ago when it was just over 1000 that i would buy it at 889 or 867,
and then hold for over 1,000 when the dollar starts to weakend again.

Im not a scalper or swing trader, but an 'Opportunist trader',
and so while i could see that buying gold at that level would be a good opportunity,
i didnt think that there was much chance of it actually going that low, and especially not as fast as it has.

But it has fallen 10% in under 2weeks, so now we just need about 1.6% fall and then we are there and time to load up...

But im just curious as to whether anyone else on here is planning on buying gold there??

The thing i dont like the look of though is how gold was down at 300 t 500 for the last few years..

But then suddenly went from 500 to over 1,000 in a straight diagonal trend,
and has held around the mid price for last year even though the dollar has gotten so strong.

I do understand about maco economics and how gold is the 'safe place' for rich people who have spare money lying around,(but for some reason they refuse to just keep it in a bank account or in cash in their house and feel happy looking at it),
so they always feel the need to have it invested in a market constantly..

And so as the markets crashed they all piled cash into gold,
even though it initially got alot weaker as dollar rocketed to strength.

But so thats what is now unsettling me slightly,
as i focus alot on logic and human pyschology when making my trades each day,
and this gold is just abit too fish for my liking..

Since if the market decides to just fall to the 6000s and then move sideways here for a few/alot of months,
then people could likely start getting abit impatient, decide they wnat to now retire, and pull out of all their pension money from their gold trades, causing gold to fall back to where it has been for the last few years.

Aloha again, im curious if anyone else on here is also planning on buying gold at 889 or 867??

I made a call 2weeks ago when it was just over 1000 that i would buy it at 889 or 867,
and then hold for over 1,000 when the dollar starts to weakend again.

Im not a scalper or swing trader, but an 'Opportunist trader',
and so while i could see that buying gold at that level would be a good opportunity,
i didnt think that there was much chance of it actually going that low, and especially not as fast as it has.

But it has fallen 10% in under 2weeks, so now we just need about 1.6% fall and then we are there and time to load up...

But im just curious as to whether anyone else on here is planning on buying gold there??

And if not there what level are you actively looking to buy it at??

More...

I am planning on adding some physical longs arnd $892, if it gets there.

The thing i dont like the look of though is how gold was down at 300 t 500 for the last few years..

But then suddenly went from 500 to over 1,000 in a straight diagonal trend,
and has held around the mid price for last year even though the dollar has gotten so strong.

I do understand about maco economics and how gold is the 'safe place' for rich people who have spare money lying around,(but for some reason they refuse to just keep it in a bank account or in cash in their house and feel happy looking at it),
so they always feel the need to have it invested in a market constantly..

And so as the markets crashed they all piled cash into gold,
even though it initially got alot weaker as dollar rocketed to strength.

But so thats what is now unsettling me slightly,
as i focus alot on logic and human pyschology when making my trades each day,
and this gold is just abit too fish for my liking..

Since if the market decides to just fall to the 6000s and then move sideways here for a few/alot of months,
then people could likely start getting abit impatient, decide they wnat to now retire, and pull out of all their pension money from their gold trades, causing gold to fall back to where it has been for the last few years.

More...

I think gold will fall to about $860 because of supply & demand issues. (edit...within a couple weeks or so) India's not buying much and the mines are likely cranking out as much as they can. This estimate came from putting pencil to paper.

But to answer your question, a lot of the rise in value is that there's just so much fiat paper out there right now. Even though its sitting on the sidelines, the idea that it will eventually come into circulation will keep gold higher than it was over the last few years until it (relatively) goes away.

Ok, see? I know the stuff...now can someone please tell me if its possible/feasible to buy a 3:1 EFT here in the U.S. or would the contortions associated with trying to buy a foreign fund cost too much?

I think gold will fall to about $860 because of supply & demand issues. (edit...within a couple weeks or so) India's not buying much and the mines are likely cranking out as much as they can. This estimate came from putting pencil to paper.

But to answer your question, a lot of the rise in value is that there's just so much fiat paper out there right now. Even though its sitting on the sidelines, the idea that it will eventually come into circulation will keep gold higher than it was over the last few years until it (relatively) goes away.

Ok, see? I know the stuff...now can someone please tell me if its possible/feasible to buy a 3:1 EFT here in the U.S. or would the contortions associated with trying to buy a foreign fund cost too much?

SM

More...

Boy, when I'm wrong, I'm wrong. After watching Bloomberg last night and hearing that this contagion is affecting the GDP's of some of the largest countries, I've changed my mind. I think that the fear factor will boost demand beyond levels that I was thinking prior. Yeah, Gold dipped and then rallied back, but I see it taking out the old high now. Thats the way I bet. Bought me a leveraged ETF.

Boy, when I'm wrong, I'm wrong. After watching Bloomberg last night and hearing that this contagion is affecting the GDP's of some of the largest countries, I've changed my mind. I think that the fear factor will boost demand beyond levels that I was thinking prior. Yeah, Gold dipped and then rallied back, but I see it taking out the old high now. Thats the way I bet. Bought me a leveraged ETF.